Apart from Hero MotoCorp, recently companies like Maruti Suzuki, Honda and Mahindra have also decided to discontinue their production.
Two-wheeler maker Hero MotoCorp has decided to close all its plants in the country for another week till May 16, in view of the state of COVID-19 transition. Hero Motocorp said in a statement that the shutdown also included the Global Parts Center (GPC) at Neemrana and the R&D plant at Jaipur – Center of Innovation and Technology (CIT).
Obviously, the closure of the plant means stopping production, that is, the company will not make vehicles during this time. The company had last month announced temporary closure of operations at all its 6 manufacturing units, including Haryana-based Dharuhera and Gurugram, Chittoor in Andhra Pradesh, Haridwar in Uttarakhand, Neemrana in Rajasthan and Halol in Gujarat. The total annual production capacity of these plants is 90 lakh units.
Work will start again if the situation improves
“The company is constantly monitoring the situation and is ready with a plan to maintain business continuity and can start operations as soon as the situation improves,” the statement said. In view of the Corona epidemic The auto companies are constantly shutting down their production. Apart from Hero MotoCorp, recently companies like Maruti Suzuki, Honda and Mahindra have also decided to discontinue their production.
Let us tell you that Hero MotoCorp made a net profit of Rs 885.28 crore in the last quarter of the financial year 2020-21 on the basis of strong sales. The company said that it had a net profit of Rs 613.81 crore in the fourth quarter of 2019-20 and thus increased its net profit by 44 percent. Hero MotoCorp said in a regulatory notice that the total revenue earned from operations in the fourth quarter ended 31 March 2021 was Rs 8.689.74 crore as compared to Rs 6,333.89 crore in the same period of the previous financial year.
The company said that in the last quarter it sold a total of 15.68 two-wheelers while in the last quarter of the financial year 2019-20, it had sold 13.23 lakh vehicles. In this way, its sales increased by 18.5 percent. The total net profit of the company stood at Rs 2,936.05 crore in the financial year ended 31 March 2021, while it was Rs 3,659.41 crore in the financial year 2019-20 i.e. a 20 percent decrease in the net profit of the company. The total revenue earned from operations in the financial year 2020-21 stood at Rs 30,959.19 crore as compared to Rs 29,255.32 crore in the previous financial year.
(With language input)
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